AMBUJA CEMENTS - BULLISH BREAKOUT SETUP

9 lug 2020

AMBUJACEM

Stock has given a good bullish breakout supported by massive volumes and good RSI and relative strength.

-> 195 has been a good previous support. When it was breached, after a short correction stock has shown a quick v-shaped recovery and
consolidated again at its previous levels and has given a good breakout. Now if has to move up, 195 would act as a good support again.

My View: Long for a short term view if it sustains 200 levels

PS: Trade with caution or wait for some more price action. (It could result into a failed breakout)

Diclaimer: Take this view only for educational purpose. Trade on your own risk.
Happy trading!